Credit rating announcement:
Credit rating announcement
UMGENI WATER
Company code : BIUMWA
Stock Codes:
UG21: ZAG000075698
UG26: ZAG000133760
CREDIT RATING ANNOUNCEMENT
Noteholders are advised that following the downgrade of South Africa on 29 April 2020, S&P Global
Ratings (“S&P”) has affirmed Umgeni Water's National Scale Rating at 'zaAAA' for the long term and
'zaA-1+' for the short term.
The affirmation reflects S&P’s view of Umgeni Water’s business risk as fair and notably S&P’s
expectation for Umgeni Water to continue to maintain solid financial metric with financial risk
assessment being moderate. This rating affirmation is indicative of the solid financial and non-financial
performance by Umgeni Water over the years in its continued ability to execute its mandate of
provision of essential services that fuel the economic development, which contributes approximately
18% of the national GDP.
The full rating announcement will be made available upon request.
18 May 2020
Debt Sponsor
Nedbank Corporate and Investment Banking
Date: 18-05-2020 08:53:00
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